Greenpeace questions Marfrig bond’s signal

Beef from Adobe 230x150
By Jon Hay
02 Aug 2019

International investors this week enthusiastically bought a $500m ‘sustainable transition bond’ issued by Marfrig, the second biggest Brazilian beef producer. The deal highlighted its efforts to make its supply chain more sustainable. But Greenpeace, the environmental NGO, argues it is impossible to be sure the supply chain does not include harmful practices.

The bond, led by BNP Paribas, ING and Santander, has won widespread attention, partly because it is the first real example of what could become a new asset class of transition bonds, and partly because the sector is so controversial. GlobalCapital has reported on the issues in ...

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